Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Saturday morning. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated a hold rating on shares of Surmodics in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has an average rating of Hold and a consensus target price of $50.00.

Surmodics Stock Down 1.0 %

NASDAQ:SRDX opened at $38.41 on Friday. The stock’s fifty day moving average price is $39.91 and its two-hundred day moving average price is $36.74. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The company has a market cap of $548.11 million, a price-to-earnings ratio of 40.43 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. The business had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $30.32 million. On average, analysts anticipate that Surmodics will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Surmodics

Large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after buying an additional 673 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after buying an additional 481 shares during the last quarter. Hardin Capital Partners LLC acquired a new position in shares of Surmodics during the 2nd quarter worth about $206,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Surmodics during the 1st quarter worth about $223,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).